- Review of African wealth management sector, including major players by
AuM in each country.

Key highlights:

- Mauritians are the wealthiest individuals in Africa with US$21,700 in
wealth per person, whilst people in the Zimbabwe are the poorest with
US$200 per person.

- There are approximately 165,000 HNWIs living in Africa, with combined
wealth holdings of US$860 billion.

- Approximately US$125 billion of African HNWI wealth is tied up with
wealth management companies.

- South Africa (mainly Johannesburg) is the hub for African private
banking with US$72 billion in AuM.

- African HNWIs (outside South Africa) tend to keep their funds in
traditional holding centers such as the UK, the Channel Islands and
Switzerland. Dubai is another popular destination, especially for North
African HNWIs.

- It is estimated the African private banking market will grow by 7% per
annum over the next 10 years.

- The most promising emerging African markets for private banking are
Ghana and Kenya.

- In Africa, around US$28 billion is tied up in venture capital
companies and foundations that are linked to the wealthy. Many HNWIs use
these vehicles as a way to transfer money to the next generation.